PPS Commercial, PPS Qld in liquidation owing at least $4.5 million leaving subbies bereft

Two more Gold Coast construction companies are in liquidation, leaving subcontractors and suppliers at least $4.5 million out of pocket and an unknown number of projects incomplete.

Two more Gold Coast construction companies have been placed into liquidation, leaving subcontractors and suppliers $4.5 million out of pocket and an unknown number of projects incomplete.

Burleigh Heads-based PPS Qld and PPS Commercial had completed projects from Byron Bay to the Sunshine Coast, including the Hinze Dam Visitor Centre, Elements of Byron beach resort, plus aged-care facilities, childcare centres, schools and medical centres.

The company, which also built residential properties, is the latest in a record run of construction company liquidations in Queensland.

PPS Qld is solely directed by Salam Bettridge, 48, while PPS Commercial is solely directed by wife Raquel Bettridge, 52.

Mr Bettridge had been the director of PPS Commercial until September 2022.

PPS Commercial and PPS Qld are in liquidation.

Liquidator Nick Keramos, of McLeods Accounting, said directors had reported PPS Qld had debts of $1.8 million to unrelated creditors, while PPS Commercial had about $2.7 million.

The figures are likely to change as more creditors come forward and lodge claims and related companies also claimed they were owed money.

Mr Keramos said PPS ceased trading before liquidation, but had a number of incomplete projects.

“The majority of the creditors we are aware of at this juncture are suppliers, subcontractors and employees,” he said.

“The main reason provided by the directors for both companies is adverse trading conditions in the construction industry.”

The Gold Coast Bulletin has contacted the directors for comment.

Salam Bettridge (right) leaves Southport Court with his legal team.

Raquel Bettridge.

Cadsteel founder John Davis said he was owed about $700,000 by PPS Qld after working on a townhouse project at North Ipswich.

Mr Davis said his lawyers had served the company with a statutory demand days before PPS went into liquidation.

Mr Davis said the liquidations would allow him to recoup “about 90 per cent” of what he was owed through trade insurance, but he felt for smaller operators unlikely to be insured.

“It’s not too bad for us but we still have to pay those insurance premiums and they’re not cheap, so for a lot of the smaller operators, they can’t afford it so they’re left with nothing,” he said.

“We worked on our project and everything was fine until they started falling further and further behind on payments and said ‘we can’t continue like this – we need to be paid’.”

John Davis of Cadsteel, a contractor stung by the collapse of building company PPS. Picture: Nigel Hallett

Sunshine Coast Concreters management have been chasing PPS Commercial for weeks after completing an assignment for the besieged builder in May.

Sunshine Coast Concreters director Billy Grimes said the building company’s demise was a bitter blow.

“There’s no winners in this, it just sucks,” he said.

“It makes you feel pretty small because there’s nothing you can do about it.

“The QBCC aren’t even a mall cop when it comes to enforcement, so you feel helpless.

“I don’t know where this industry is going to end up because nobody will trust anybody.”

He said they were owed about $7000 for a project completed in May.

“That might not sound like a huge amount, but we’re a small family business and it takes a long time to earn and save $7000 so it stings,” he said.

Raquel and Salam Bettridge in 2004.

Mr Bettridge’s report to liquidators said PPS Qld had loaned $2.9 million to PPS Commercial and another $204,445 to a company named Timaza, which is the shareholder of both PPS companies and is solely directed by Ms Bettridge.

PPS Qld creditors include Harvey Norman, owed more than $50,000 and the Queensland Rural and Industry Development Authority, owed $217,000.

Scores of small and medium businesses including tilers, concreters, roofers and more are also out of pocket.

PPS Commercial held a category four builder licence for maximum revenue of $60 million, while PPS Qld was licensed up to $30 million.

Internet archives show all content was removed from the company’s website in 2022.

Mr Bettridge was acquitted in 2022 of lying on a form filed with the Australian Securities and Investment Commission.

He successfully pleaded not guilty to one count of making a false or misleading statement.

Originally published as PPS Commercial, PPS Qld in liquidation owing at least $4.5 million leaving subbies bereft